Financial Conditions (March 2007)
PRESS RELEASE Release Date: April 25, 2007
Financial Conditions (March 2007)
Monetary Aggregates For the month of March 2007, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 10.19%, 8.22%, and 5.86%, respectively. All of these growth rates were higher than those recorded in the previous month. This was mainly due to the lower base of last year and a sustained bank credit growth. The seasonally-adjusted annual growth rates of M1A, M1B, and M2 were 10.26%, 7.74%, and 5.78%, respectively. For the first three months of the year, the average annual growth rates of M1A, M1B, and M2 were 7.70%, 6.66%, and 5.54%, respectively.
Direct and Indirect Finance At the end of March, the annual growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions rose from 4.10% at the end of the previous month to 4.54%. This was mainly due to the lower base of last year and an increase in bank claims on private enterprises and individuals. The seasonally-adjusted growth rate of bank loans and investments was 4.51%. If (1) loans and investments extended by life insurance companies and investment and trust companies, (2) non-accrual loans reclassified and bad loans written-off by major financial institutions, and (3) funds raised directly from capital markets were all taken into account, and the change in the fair value of banks' portfolio investments was excluded, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 4.23%, higher than the 4.20% at the end of the previous month.
Notes: 1.The upcoming Financial Conditions (April 2007) is scheduled for release at 16:20 on May 25, 2007.
2.For the release schedule for the next six months, please check the CBC website at http://www.cbc.gov.tw/EngHome/ESSDS/calacal.htm.
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